Real Estate Math
A Pennsylvania property's assessed value is $180,000. The county CLR (Common Level Ratio) is 80%. What is the implied market value?
A$144,000
B$225,000✓ Correct
C$180,000
D$216,000
Explanation
Market Value = Assessed Value / CLR = $180,000 / 0.80 = $225,000.
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